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| Saint Laurent Spring/Summer 2021 Fashion Show - Image via British Vogue |
KERING REVENUE JUMPS BY 44.1% IN NORTH AMERICA, SLUMPS BY 41% IN WESTERN EUROPE - The revenue of luxury fashion brand Kering during Q3 2020 outperformed analysts’ expectations. According to the research data analyzed and published by Stock Apps, its consolidated revenue sank by 1.2% quarter-over-quarter (QoQ) and 4.3% year-over-year (YoY) to €3.72 billion in Q3 2020. This was a significant rebound from Q2 2020 when the brand posted a 43.5% decline YoY.
Gucci was its worst hit house, as its sales
dropped by 12.1% YoY to €2.09 billion. However, based on the Lyst Index, it was
the hottest brand in Q3 2020.
Gucci Page Views
Shoot Up By 52%, Clinches First Spot on Lyst Index
Kering’s leading region during the quarter was
North America, where it had a 44.1% increase in sales. The Asia Pacific followed
with 18.5%. On the other hand, revenue from Western Europe dropped by 41% and
22% in Japan.
Similarly, Gucci posted a 43.7% increase in
North America and 10.6% in APAC. But in Western Europe, its sales dropped by
47.3% and 25.9% in Japan. The uneven performance was due to a lack of tourists
in Western Europe and Japan. Notably, Gucci’s online sales soared by 12.6% as
its wholesale revenue sank by 31.6%.
Among Gucci’s highlights for the quarter was
the Epilogue Collection Livestream. It drew a worldwide audience of more than
35.2 million viewers across various platforms. Moreover, Gucci’s page views on
Lyst surged by 52% YoY during the quarter.
On the other hand, Bottega Veneta’s revenue
for the period was €332.5 million, up by 17% YoY. Its online sales rose by
101.9% and its wholesale sales by 63.4%. Yves Saint Laurent’s revenue was
€510.7 million, up by 0.8% YoY. Its retail sales rose by 5.8%, online sales
more than doubled and wholesale revenue jumped by 3.4%.
Other Kering Houses revenue increased by 9.3%
YoY with retail sales up by 10% and wholesale sales rose by 16.7%. Its
corporate and other segments had a 10.1% YoY increase in revenue with Kering
Eyewear in the lead.
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